GJN4296 Wildish Contract - Laserfiche WebLink

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Proceed, and shall complete the Work by August 30, 2005. SECTION 6. CONTRACT SUM. The Contract Sum is $232,396.75. The Contract Sum is based on unit prices bid by Contractor multiplied by estimated quantities, together with lump sum amounts for portions of the Work, as described on the Proposal. The actual sum payable to Contractor for the Work shall be based on lump sum amounts and actual quantities. SECTION 7. PROGRESS PAYMENTS/RETAINAGE.. City shall make progress payments monthly as the Work progresses. Payments shall be based upon estimates of the Work completed and approved by City. Progress payments shall not be considered an acceptance or approval of any of the Work or a waiver of any defects therein. City may reserve as retainage from progress payments an amount not to exceed five percent of the payment. Contractor shall have the right to deposit bonds or securities in lieu of cash retainage, or to have cash retainage deposited in an interest bearing account, in accordance with ORS 279.420 and Section 90-0& of the FAA General Provisions. Irrevocable letters of credit from a bank doing business in Oregon will be accepted in lieu of cash retainage. SECTION 8. FINAL ACCEPTANCE AND PAYMENT. Final acceptance will occur when City and Engineer agree that the Work has been entirely completed, following notice of completion from the Contract and satisfactory completion of any defect noted on Engineer and City's inspection of the Project. Within 30 days of the date of final acceptance, the Engineer shall submit to the Contractor the estimated amount of final payment based on the Engineer's review of the Work and final quantities. If the Contractor and Engineer cannot agree upon the final payment due within 30 days after the date ofEngineer's initial estimate, Contractor will be deemed to approve Engineer's final estimate for payment purposes, but to reserve the might to protest any disputed quantity as a claim under the Contract. City will make its final payment within 15 days of Contractor's approval, or deemed approval, of Engineer's final payment estimate. Retainage held by City shall be included in and paid to the Contractor as part of the final payment. SECTION 9. LATE PAYMENTS. If the final payment is made more than 15 days after the payment is approved, City will make interest payments as required by the public contracting code. SECTION 10. STATEMENT OF COMPLIANCE, Before any payment is made to Contractor, Contractor shall file with City a statement, under oath, that it has complied with all provisions of State law governing contractors on a public contract and that it has complied with the provisions of the Eugene Code governing fair employment practices. In addition, Contractor shall file with City a sworn statement by each of its subcontractors to the same effect. SECTION 11. QUALITY OF WORK/WARRANTY.. Contractor warrants to City for a period of one year from final acceptance of the Workby City that all materials and equipment furnished under the Contract will be new, unless otherwise specified, and the Work will be of good quality, free from faults and defects and in conformance with City's specifications. Work not so conforming with these standards shall be considered defective. At its own expense, Contractor will make good and repair any defects arising from faulty workmanship or materials, if the defective work is discovered within the one-year warranty period and notice thereof is given to Contractor within 60 days after the expiration of the warranty period. The Contractor shall furnish satisfactory evidence as to the kind and quality of materials and equipment as specified in the specifications. SECTION 12. INDEMNIFICATION. To the extent permitted by law, Contractor shall indemnify and hold City, and its officers, agents and employees, harmless from and against all claims, actions, liabilities, costs, including attorney fees and other costs of defense, arising out of or in any way related to the Work,